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Suppose that identical duopoly firms have constant marginal costs of $10 per unit. Firm 1 faces a demand function of q1 = 180 - 2p,
Suppose that identical duopoly firms have constant marginal costs of $10 per unit. Firm 1 faces a demand function of q1 = 180 - 2p, + 1p2. where q, is Firm 1's output, py is Firm 1's price, and py is Firm 2's price. Similarly, the demand Firm 2 faces is q2 = 180 - 2pg + 1p1. Solve for the Bertrand equilibrium. In equilibrium, Pq equals $ and Py equals $ (Enter numeric responses using integers.) At these prices, 91 equals and 9% equals
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